Outlook 01/31: U.S. stock index futures mainly hugged the flatline overnight after the FED and J.Powell on Wednesday sparked a late party on Wall Street. Combined with comments that the Fed's balance sheet would remain larger than previously expected, the central bank expressed it would be "patient" before making any further rate moves.
/ESH19 Value: YVAH 2684 YPOC 2679 YVAL 2655 GAP 2682.50
/ES Plan: Yesterday market closed bimodal and overnight looks balanced, moving within previous value, so we've these options:
A) If market remains below HVE 2684 with bearish internals, sell towards HVE 2674 LVN 2667 YVAL 2655 and GAP 2641.
B) If market starts to move above 2684 with bullish internals, buy towards ONH-HVE 2691.75-92 LVN 2700 and PBT 2704.
Today's Economic Calendar
09:45 Chicago PMI
10:00 New Home Sales
10:30 EIA Natural Gas Inventory
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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Glossary of terms
